Boeing is to cut the rate of production for the 747
The company cites slower growth in the air cargo segment. Says Ray Conner, Boeing vice chairman and president and CEO of Boeing Commercial Airplanes:
"Global air passenger traffic growth and airplane demand remain strong, but the air cargo market recovery that began in late 2013 has stalled in recent months and slowed demand for the 747-8 Freighter'
In September 2016, the 747-8 program's production will decline from one airplane per month to 0.5 per month
Prior announcements said the rate would drop from 1.3 per month to one per month in March 2016
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Those are significant cuts from Boeing. The reduction in air cargo demand is indicative of a slowing global economy. Other segments are holding up though.
